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Ripple (XRP) Price Analysis: Further Gains Seem Likely

Ripple (xrp) price analysis: further gains seem likely

Ripple (XRP) Price Analysis: Further Gains Seem Likely

  • Ripple price corrected lower after trading as high as $0.3168 against the US dollar.
  • The price traded below the $0.3100 level, but the $0.3070 level acted as a decent support.
  • There was a break above a key bearish trend line with resistance at $0.3080 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely to accelerate gains once bulls clear the $0.3120 resistance level in the near term.

Ripple price remained well bids on the downside against the US Dollar and bitcoin. XRP/USD is climbing higher and it could accelerate once again towards the $0.3150 and $0.3165 levels.

Ripple Price Analysis

This past week, we saw a solid upward move above the $0.3100 resistance in ripple price against the US Dollar. The XRP/USD pair even broke the $0.3150 resistance and settled well above the 100 hourly simple moving average. The price traded as high as $0.3168 and later it started a downside correction. Sellers pushed the price below the $0.3120 and $0.3100 levels. However, the price found a strong support near the $0.3070 level and the 100 hourly simple moving average.

A swing low was formed at $0.3070 and recently the price climbed higher once again. It broke the 23.6% Fib retracement level of the last decline from the $0.3168 high to $0.3070 low. Moreover, there was a break above a key bearish trend line with resistance at $0.3080 on the hourly chart of the XRP/USD pair. The pair is now trading nicely above the $0.3080 level and the 100 hourly SMA. On the upside, an immediate resistance is near the $0.3120 level.

Besides, the 50% Fib retracement level of the last decline from the $0.3168 high to $0.3070 low is also near $0.3120. Therefore, the price might struggle to clear the $0.3120 resistance area. If bulls succeed in gaining strength above the $0.3120 resistance, the price could retest the $0.3150 resistance. Any further gains will most likely increase the chances of a move towards the $0.3200 barrier.

Ripple price analysis xrp chart

Looking at the chart, ripple price is trading nicely above the $0.3070 support and the 100 hourly SMA. Should sellers clear the $0.3070 support, there could be a downside extension. The next key support is near the $0.3030 level, where buyers are likely to emerge. Therefore, the $0.3070 support holds the key for more gains above the $0.3100 and $0.3120 resistance levels in the near term.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 50 level, with a positive bias.

Major Support Levels – $0.3080, $0.3070 and $0.3030.

Major Resistance Levels – $0.3100, $0.3120 and $0.3150.

Published at Mon, 01 Apr 2019 05:00:31 +0000

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FLUX: Restructure the Gaming Ecosystem with Blockchain Technology

Much has been said about ICOs during the course of 2017. Are ICOs key to a successful startup journey? Yes, ICOs are now a huge part of the fundraising landscape, with a similar impact as Venture capital funding. While some beg to differ about the future of the crowdfunding phenomena, one can’t deny the impact it has had on many startups this year.

A successful ICO can say much about the innovative nature of a startup. For instance, a majority of presale participants are industry professionals and seasoned industry investors. This means the product is valuable at face value and can find mainstream applications. That’s seriously easy math.

Case in point is blockchain based FLUX, which announced its token sale on December 10, 2017, and set to end on December 31, 2017.  Earlier, the gaming ecosystem successfully closed its presale with over $2 million worth of investment in BTC, ETH, USD, and EUR to successfully gaining recognition as one of the most promising blockchain projects in the gaming industry. The success can be attributed to the implementation of a unique investment system called SICS (Special Investment Control System), which is a personal escrow plan for every person who invests $500 thousand. The plan is a key stepping stone to ensure that all funds collected during the ICO round are correctly applied in accordance with the initial agreement.

FLUX’ concept revolves around creating a unique global gaming ecosystem where players, developers, traders, and the gaming community can convert time spent into gaming token FLUX COIN. The platform also creates a competitive gaming atmosphere that offers a marketplace for games, online streaming, and trading in-game items. Using blockchain technology, gamers, developers and investors will get rewards for matchmaking competitions, trading items on the marketplace and even crowdfunding their own ideas within the platform, in a transparent and automated way. This makes FLUX a good extension to the over $105 billion annual revenue – gaming industry.

The foundation of the FLUX ecosystem is based on introducing support platform which will allow players to compete in games from a list of available games, and earn opponent’s money after a successful win. With the use of smart contracts, the system will be capable of supporting a secure and transparent matchmaking process. Players can use BTC, ETH, LTC, EUR, or Visa/MasterCard payments etc to finance their gaming endeavors online. This will in turn guarantee the player descent earnings, given his/her gaming skills on a safe platform backed by a decentralized system. The platform will be available for Windows, MacOS, Linux, Windows Phone, iOS, and Android.

The 1st stage of the token sale is currently underway, while the 2nd stage will take place during the 1st quarter of 2018. The 1st stage started with a 25% bonus during the first hour, followed by 20% for the remaining part of the day. The bonus gradually reduced to 15% on the first week, 10% during the second week and 5% in the final week. The tokens will be available for purchase against payments in ETH (Ethereum), BTC (bitcoin), USDT, DASH, ETC, LTC, ZEC, VISA, MasterCard, USD, EUR, and SHAPESHIFT. Of the total amount raised, the FLUX team will control only 15% of the amount to give room for SICS plan holders.

More information about the platform and ongoing token sale is available at – http://flux.fund/

The post FLUX: Restructure the Gaming Ecosystem with Blockchain Technology appeared first on NewsBTC.

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